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Tips For Biz Owners Getting Into Home Health Care Franchise

Owning a Home Health Care Franchise that provides service to senior members of your community is a rewarding career. These 10 tips will help get you started.

Owning a Home Health Care Franchise that provides service to senior members of your community is a rewarding career. These 10 tips will help get you started.

By: Rosemarie Tamunday Casanova — RN, BSN, MHA

Business ownership is a dream for many people. One of the most rewarding ways a person can achieve that dream is by opening a home health care business. The demand for senior home health care rises as the baby boomer generation reaches retirement age, and the industry has been growing rapidly to meet that demand.

There are two options for opening a senior home health care business, either by establishing an independent agency or by purchasing an already stable franchise. There are significant differences between an independent agency and a franchise, and which one the person chooses drastically changes how they operate their business.

elderly woman face in focus

Photo by Kelly Sikkema on Unsplash

If you choose to buy a home health care franchise business, it still requires continual efforts to bring out the most out of the fee you paid. Purchasing a franchise gives a person the benefits of being their own boss without many of the risks that come with starting a business from scratch. By choosing a home health care franchise, individuals are taking steps to protect themselves against economic downturns and joining one of the fastest-growing industries in the United States.

So, if you are setting foot in the franchising niche, we have rounded up ten home health care franchise tips aimed at driving profitability and success for your business. Read more, and Check it out!

#1: Find the Right Franchise Option

The most important part of purchasing a home health care franchise is finding one that reflects the purchaser’s principles and meets their personal and professional needs. The right home health care franchise provides comprehensive training and support that enhances the lives of franchisees and the franchisees’ clients. The franchisor’s role is to encourage the franchisee to become an active member of their community and to assist them as they establish themselves as reliable, respected local business owners.

#2: Always Pay Attention To The Franchise Agreement

It might look like a page full of terms & conditions (which we always ignore and accept without reading) but never make the same mistake with the franchise agreement. While you have the agreement in your hand, make sure you understand each aspect and terminology jotted down in there. You might be doubtful about the franchise relationship. The common points that you need to understand are;

  • You will have to pay the one-time franchise fee to the franchisor
  • You will have to pay the certain percentage of sales revenue in the name of royalty fee
  • You will own certain assets of the company but you are only allowed to operate under their name

If your franchise agreement has some additional points, read them thoroughly and always ask about the points you are unable to comprehend.

caregiver talking to the elder woman

Photo by Unsplash

#3: Always Check The Demand

If there is no demand for the products and services of the franchise you are going to buy, how do you plan on earning revenues? You cannot. Always determine the market demand adhered to the business and try to comprehend the level of sustainability for at least the next twenty years. Go to Google and find out if the service you are opting to buy has a potential market in the given region. Get in touch with the franchisees that are into the same business and based on their answers, make your final call.

#4: Analyze The Competition

If there is enough market demand for your potential franchise, look out for the competition. You need to ask some essential questions inclusive of;

  • What are the new entrants doing?
  • What is the frequency of new entrants?
  • Is the competition positive or negative?
  • What is the intensity of the competition?

These question’s answers will help you assess if you should opt for the franchise or not. To seek the right answers, ask these questions from the franchisees in the same business.

senior man doing selfie

Photo by Gabrielle Henderson on Unsplash

#5: Use Comprehensive Training and Support Tools

Owning and operating a growing home care business is not usually something a person can do independently without a lot of prior experience, education, and training. Not everyone who wants to work for themselves as the business or industry background to make it work.

Franchisees, however, have tools at their disposal which help them operate their business with no extensive education or prior experience. Franchisee Training and support guide individuals through each step of the process:

Startup Guidance

With a new business, it is challenging to know how to get things off the ground, especially if the owner does not have a background in the business or industry. A franchisee, in contrast, is provided with the resources and training to start their business off on the right foot.

They are provided guidance in choosing their office location and establishing recruitment processes for clients and caregivers. There is also support staff available to help whenever they have questions about business operations.

Ongoing Training

After the startup period has been completed, franchisees and their staff are continually trained on the franchisor’s established business operations. They will learn how to run a home health care business effectively and how to provide high-quality, compassionate care for their clients. Franchise owners don’t need a health care background. The training provided by the franchisor gives them the tools they need to run the business properly.

Continuous Support

Business owners receive ongoing support from the franchisor to help ensure their growth long term. They are given exclusive manuals that coach them through a variety of tasks, including client services, reporting, daily operations, marketing, and more. Franchise support staff are available any time to answer questions and guide them through daily operations.

#6: Find the Right Mix of Your Critical Skills

Compassion and leadership are excellent qualities to have as a Home Care Franchise owner, but that will only take you part of the way to your goals. The right mix of skills creates a winning formula and the three most important elements are:

People Skills

Good people skills form the very core of our roles as home care service providers. Often, the most important part you will play is being a gentle presence for the seniors you help care for and their families. Showing compassion and empathy as you help them navigate this delicate time in their lives is central to your role as a senior care business operator.

Managerial Skills

Your managerial skills will be needed, too, for managing a staff of caregivers and their responsibilities. Many people will look to you for guidance and decisive direction, grace under pressure, and the ability to adapt quickly to new situations. You must be able to delegate responsibility while also recognizing that you have the final responsibility on business matters.

Marketing Skills

Creating engaging dialog with your community through marketing strategies will help to establish your presence and the services you provide. While RIGHT ACCORD will help by providing materials and samples for you to use, the ability to utilize social media platforms and to recognize marketing opportunities will give you a decided edge over your competition. Managing events and leveraging technology to promote services or activities can greatly enhance your reach and audience.

image of a lonely elderly woman

Photo by Christina Wocintechchat on Unsplash

#7: Use Comprehensive Training and Support Tools

You cannot start anything if you don’t have the skillset for it. Before setting your foot in franchising, make sure you have the ability to handle the new business and impregnate the market to saturate the competition and increase the sales funnel. Some common abilities need to include operationally-minded skills, organization, attention to detail, and good structural development skills.

#8: Franchising Policies

Never get into the franchise business without a complete outlook of the franchising policy of the franchisor. You need to read the agreement with a keen focus. Focus on the fee, royalty fee, revenue sharing, sales profit percentage, and much more. On the other hand, look for the additional perks adhered to in the agreement such as marketing, customer care support, events, and training.

#9: Work On Technology

The technological world has undergone multiple shifts and it’s needless to say it has become an integral part of the working system. Before you buy a franchise, make sure they are using the industry standardized technology as it impacts the productivity and profit scales. The common questions you need to ask about technology include the database, customer care podiums, and query boards. These three technological aspects ensure that your customers are having an effective experience.

#10: Customer Base

You aren’t investing hundreds of thousands of dollars to cover the small town which calls for investing in the franchise that offers a wide consumer base. On the contrary, you need to work on attracting the customer base for which you have the aligned services. Always finalize the services and types of care that are more in demand as it will impact your revenue and profit generation.

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